HomeBankingDimon Knocks Bitcoin Again: Crackdown Likely on 'Worthless' Cryptocurrency

Dimon Knocks Bitcoin Again: Crackdown Likely on ‘Worthless’ Cryptocurrency

-

Jamie Dimon is at it again.

Expanding on his recent criticism of bitcoin, the CEO of JPMorgan Chase bank is again out in the media warning “it will end badly” for the tech. In a fresh round of press interviews, Dimon told CNBC he is concerned about a flood of cryptocurrencies – thanks to bitcoin, ethereum and initial coin offerings (ICOs) – and believes governments will soon crackdown on the phenomenon.

Predicting that the scenario will not be pretty, the CEO reportedly stated that authorities will eventually threaten users with imprisonment, forcing the cryptocurrencies onto a black market.

He told CNBC:

“Right now these crypto things are kind of a novelty. People think they’re kind of neat. But the bigger they get, the more governments are going to close them down,”

Speaking to the Economic Times in India, Dimon added some more detail to his thoughts, this time addressing the idea global governments might issue cryptocurrencies.

“We already have digital currencies … you can have digital rupee, so I am not against digital currencies,” he said.

“I am talking about the creation of money and value out of thin air,” he continued. “Governments now look at it like it’s a novelty but the bigger it gets the less of a novelty it becomes.”

The new remarks follow a polarizing statement made by Dimon last week, when he openly called bitcoin a “fraud” and that he would fire any employee for trading it. Notably, Dimon is now being accused of spreading false and misleading information in a market complaint by Blockswater, a company in Sweden.

LATEST POSTS

Cyprus registers Binance as a cryptocurrency service provider.

Binance, a cryptocurrency exchange, will be able to provide services for virtual currencies in Cyprus as a result of the platform's recent registration with the...

More than 24,000 ATMs in Brazil will offer USDT through Tether and Smartpay.

Usdt, the largest dollar-pegged stablecoin on the market, was created by Tether, a company. Tether recently announced that more than 24,000 ATMs in Brazil will...

To solve the blockchain modularity issue, Celestia raises $55 million.

The project Celestia, which seeks to address the alleged centralization issue in the current monolithic blockchains, has announced the completion of its most recent funding...

Hong Kong considers removing the “Professional Investor-Only Requirement” and allowing retail investors to trade cryptocurrency.

Securities and Futures Commission (SFC) of Hong Kong's director of licensing and head of the fintech division both confirmed that the regulator is taking into...

Follow us

13,033FansLike
3,702FollowersFollow
0SubscribersSubscribe

Most Popular

spot_img